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Hi guys, I have been wondering for a while as this happens rather frequently and would like some help on getting a better idea on 20MA gap bars and final flags.
For example, in the chart below, the was a triangle which I interpret it as a potential final flag but I did not buy as the leg down was strong and so I felt that the next bull reversal would potentially be minor. Instead, I was looking for a reason to sell and I was wondering if the area I marked in the chart below was a 20MA gap bar albeit it being a bad signal? I am not sure if I could categorise it as a 20MA gap bar because midway there was a touch of the EMA before the trend briefly resume but still if I count that gap bar below the EMA it was more than 20.
Thank you in advance
